No PSB Privatisation in the next one year said former finance secretary Subhash Chandra Garg in an exclusive interview with Moneycontrol. The public sector bank privatisation has been a long-pending agenda for the government which is finding stiff trade union opposition. It was earlier announced in the 2021-22 budget that government would privatize two PSBs (public sector banks).
According to Mr. S C Garg, the major hurdle is the amendment in the banking nationalisation act and due to general election next year, there are no possibility of that being brought in the remaining one year. Also Read – RBI Bulletin – Government Banks Privatization May Do More Harm Than Good
